By Henry UCHE
A Joint Committee of staff of Nigerian Investment Promotion Commission (NIPC) and Federal Inland Revenue Service (FIRS) on Pioneer Status Incentive (PSI) has been inaugurated over the weekend at the NIPC’s Head Office, Abuja. A Newsletter from NIPC confirmed this.
Acccording to the newsletter, the Committee was set up to painstakingly review the current guidelines for administration of the PSI, validate the cost of the incentive to Nigeria and recommend changes to the qualification and administration.
Commenting, NIPC’s Executive Secretary/CEO, Ms Yewande Sadiku stated that the Commission understands the responsibility it shoulders in relation to administering the PSI and exercises great diligence in processing applications for the benefit of everyone.
“We understand the enormous responsibilities on our shoulders in relation to administering the PSI and we excercise keen diligence in the processing application, we are not resting on our oars,” she said.
On his part, the Executive Chairman of FIRS, Mr Muhammad Nami, encouraged members of the Committee to invest their energy into the exercise as it is a viable means to assist government to achieve an enabling business environment plan, bearing in mind the responsibility of government to fund budgetary needs.
“I charge every member of this committee to deploy more energy into this excercise having Known that it is a feasible way to aid the federal government achieve a friendly business environment to facilitate businesses, we are not unaware of the sole responsibility of government to fund Projects like this,” he stressed.
The Joint Committee is expected to complete its assignment within 3 months of 2021.